Number of Pensioners Returning to Work Could Double

MTI-Hungary Today 2019.01.03.

The number of Hungarian pensioners returning to the workforce could soon double from around 70,000 at present, the finance minister’s deputy said in an interview in pro-govt daily Magyar Idők on Thursday.

“There are about 70,000 people working while drawing on their pensions in Hungary right now. As a result of the new, more favourable system of tax regulation, this number could as much as double in a relatively short period,” András Tállai told the paper.

From the start of 2019, pensioners who choose to return to work are exempt from payroll taxes and must pay only the 15 percent personal income tax.

“Till now working pensioners have pocketed 71,000 forints of every gross 100,000 forints they earn….This year, they can take home 85,000 forints,” Tállai said.